Nomura to report 300 billion yen group net loss for Oct.-Dec. period

TOKYO, Jan. 25 Kyodo -
Nomura Holdings Inc. is expected to report a group net loss of around 300
billion yen for the October-December period due to the global financial
turbulence that worsened after the bankruptcy of Lehman Brothers Holdings Inc.
in mid-September, sources familiar with the matter said Sunday.
It would be Nomura's largest-ever quarterly loss since Japan's top brokerage
house began releasing quarterly earnings results based on U.S. accounting
standards in the April-June period of 2001.
Nomura is likely to post a group net loss in the fiscal year ending March 31,
its second consecutive year of red ink, as its net loss in the April-December
period is projected to exceed 400 billion yen, the sources said.
Nomura suffered from slumping stock and bond trading in the October-December
period as well as from evaluation losses on securities holdings, the sources
said.
Sales of investment trust and other financial products to individual investors
were sluggish during the period, they said.
The brokerage house is also expected to book around 200 billion yen in costs
related to its purchase of Lehman's operations in Europe, the Middle East and
the Asia-Pacific region including Japan, according to the sources.
Nomura will announce its earnings results for the October-December period on
Tuesday.
==Kyodo